07/30/2011 We have completed a monthly bar for July this weekend, so my weekly post is monthly chart instead of daily one. Comments are welcome!
I'm following S&P 500 and EUR/USD right now. Agree with you on the S&P 500. Disagree on the EUR/USD -- We both agree it's going up but I have totally different wave counts... see screenshot.
bsmith - Thanks for contributing your good wave count on EUR. I actualy once had similar count back in April. About SP, we need to recount the wave. It seems that the c is extending.
I think the overall trend is a motive wave down instead of a corrective move as you have in your chart. Have you looked at this option? Just interested to know why you think it's a correction? Here's my updated charts for S&P 500. I think we are in a Wave 4 pattern right now. Once this completes, we can look for a Wave 5 and draw our projections from there. (sorry about the size of the charts -- not sure how to make them smaller?)
bsmith72 - I assume that you are talking about the SP? Yes, I have taken that into consideration. The following monthly chart is from an old post: It is probably on the way to an [[E]] of [[[IV]]]. Can you post your charts again because they are showing broken links.